What Is Dolomite (DOLO)?

In the realm of DeFi, Dolomite stands out by merging the strengths of a decentralized exchange and a lending protocol, creating one of the most capital-efficient and modular platforms to date. It offers over-collateralized loans, margin trading, spot trading, and various financial instruments. Dolomite simplifies portfolio hedging, leveraging, or unlocking idle capital through its broad token support, capital efficiency, and a non-profit-seeking model that passes DeFi rewards directly to users. The platform aims to become a central hub for DeFi activities, enabling protocols, yield aggregators, DAOs, market makers, hedge funds, and others to manage portfolios and execute on-chain strategies.

Why is Dolomite’s Architecture Unique?

Dolomite boasts a highly modular architecture, divided into two layers: the immutable core layer and the mutable module layer. Designed to embody the spirit of DeFi, the protocol features an unchangeable base layer that can only adjust specific configuration parameters while maintaining essential modularity to adapt to evolving DeFi trends, environments, and paradigms. This modularity ensures a clear upgrade path, preserving Dolomite’s core functionality while integrating new features without conflicting with existing modules.

The platform introduces innovative portfolio management options by embedding features into its core margin protocol. Operations are executed through the immutable layer via a sequence of actions, with notable ones including Transfer (with internal liquidity) and two Trade actions. Transfers allow movement of funds between subaccounts or different wallets, while trading enables users to utilize liquidity with external systems (using free flash loans on Dolomite) or other virtual liquidity sources.

What is DOLO?

DOLO serves as the governance token for the Dolomite protocol, designed to align incentives and promote sustainable growth. Issued as an ERC20 token on Berachain, Ethereum, and Arbitrum, DOLO employs a burn-and-mint model for transparency and interoperability. An API endpoint aggregates DOLO across all networks, reporting to platforms like CoinMarketCap and CoinGecko. Cross-chain compatibility is enabled through Chainlink’s Cross-Chain Interoperability Protocol (CCIP), ensuring seamless integration with other Layer 2s and alternative Layer 1 networks.

Token Mechanics

DOLO, veDOLO, and oDOLO form the backbone of the Dolomite ecosystem. With a fixed total supply of 1,000,000,000 tokens, DOLO integrates mechanisms inspired by successful DeFi models while introducing tailored innovations. Its distribution is structured to encourage community participation, protocol growth, and alignment with long-term stakeholders.

Virtuous Cycle

DOLO’s tokenomics create a self-sustaining cycle aligning all stakeholders:

• oDOLO generates buy pressure as users must hold DOLO for pairing and purchasing discounted veDOLO.

• veDOLO purchases increase protocol-owned liquidity (POL), enhancing stability, deepening borrow liquidity, and boosting platform appeal.

• Increased liquidity attracts users, raising protocol revenue.

• When mature, the DAO can distribute protocol fees to veDOLO stakers, further incentivizing DOLO staking.

This cycle ensures participants benefit proportionally from the protocol’s growth, fostering long-term ecosystem alignment.

Dolomite (DOLO) Tokenomics

DOLO is a standard ERC-20 token without the additional functionalities of veDOLO or oDOLO. It plays a foundational role in the Dolomite ecosystem by enabling exchange liquidity, transferability, lending, and serving as an entry point for new users.

Key Features:

• Liquidity Provision: DOLO powers initial exchange pools, ensuring a robust trading environment.

• Governance Flexibility: Converts to veDOLO for governance participation.

• Future-Proof Utility: Supports long-term growth with an inflation mechanism funding ecosystem expansion and strategic initiatives.

Distribution

DOLO’s total supply is capped at 1,000,000,000 tokens, allocated to promote long-term protocol alignment, sustainable liquidity, and decentralized governance.

Key Points:

• Total Supply: 1,000,000,000

• Total Unlocked at TGE: 415,404,000

• Circulating DOLO at TGE: 326,650,000

• Circulating veDOLO at TGE: 79,050,000

Token Distribution Overview:

• Community: 50.75%

  • Liquidity Mining: 20% (oDOLO emissions over time)

  • Protocol-Owned Liquidity (POL): 2% (seeded on Kodiak and Uniswap)

  • Boyco Incentives: 3% (emitted as veDOLO)

  • Future Partner Rewards: 5.75%

  • Airdrop: 20%

    • Minerals Claimers: 10% (call options with $0.045 strike)

    • Retroactive Usage: 9% (50% DOLO, 50% veDOLO)

    • Early Contributors: 1% (mix of DOLO and veDOLO)

• Core Team: 20.2075% (3-year vesting with 1-year cliff)

• Foundation: 10.6511%

• Investors: 15.1846%

  • 1.3933% (13,933,333 DOLO) vests over the first 12 months

  • 13.7913% (137,913,000 DOLO) vests over 3 years with a 1-year cliff

• Service Providers: 3%

• Advisors: 0.2068% (vested over 2-3 years with a 1-year cliff)

Long-Term Inflation

Starting in year 4, a 3% annual inflation rate applies (modifiable by governance). The DAO can vote to use, burn, or allocate tokens to new incentive programs. Burning tokens disables inflation for that year.

Dolomite Governance

Dolomite’s governance empowers veDOLO holders to shape the protocol’s future, focusing on key areas like asset listing/delisting, tokenomics changes, risk parameter updates, treasury allocations, and incentive program changes. The DAO is a legal entity in the Marshall Islands, with Dolomite Ltd (BVI) as the token issuer and the Dolomite Foundation (Cayman Islands) as a steward. Leavitt Innovations is contracted for protocol development and maintenance.

Voting Process

Governance flows from community discussion to execution, with veDOLO vote weight determining participation:

• Proposal Drafting: Community members or DAO participants with sufficient veDOLO prepare proposals.

• Discussion: Proposals are posted in the Discord Governance Forum for feedback.

• Temp Check: Discord conducts temperature checks on proposals.

• Quarterly Compilation: Proposals passing the temp check are bundled for a quarterly vote.

• On-Chain Voting (BeraVote): Voting occurs quarterly on BeraVote.

• Execution: Approved proposals are implemented by Leavitt Innovations, LLC.

Governance Forum Access and Roles

The Governance Forum, hosted on Discord and integrated with Galxe for wallet verification, assigns roles based on veDOLO balance:

• 1M+ veDOLO: Create proposals.

• 10k+ veDOLO: Comment on proposals.

• 1k+ veDOLO: Upvote/react to proposals.

• No veDOLO: Read-only access.

Wallet Linking and Role Assignment:

• Join the Dolomite Discord.

• Verify your identity.

• Link your Galxe account in the Bot Commands channel.

• Wallet ownership is verified via Galxe.

• Roles update automatically based on veDOLO holdings.

Future Roadmap

Dolomite’s community-driven roadmap focuses on cooperative integrations with other protocols and enhancing its core experience with the richest feature set in DeFi.

What is Dolomite XP?

Dolomite XP rewards active community members in a fun way, encouraging engagement with the platform’s features. Completing campaigns earns XP, which leads to levels and benefits. Participants gain opportunities for increased liquidity rewards and veDOLO governance participation. The XP system is powered by Galxe, a web3 community-building platform.

How to Earn XP?

Complete campaigns to earn 10, 20, or 30 XP. Each campaign includes an XP amount, description, and tasks. XP is claimed as a Galxe OAT upon completion, announced on Dolomite’s Twitter, Discord, and Achievements page.

Dolomite Balances

Your Dolomite Balance represents virtual liquidity usable across all platform services, including trading, borrowing, and pooling. Deposited assets aggregate into this balance, managed via internal ledger changes in the DolomiteMargin smart contract, enhancing capital efficiency.

Dolomite Integrations

Dolomite’s modular infrastructure enables seamless integrations with DeFi protocols, allowing users to retain control over rewards. Examples include GMX’s GLP, Camelot’s spNFTs, Sushi’s staked LP tokens, and Lyra’s cash-collateralized vaults.

Dolomite Investors and Backers

Dolomite is backed by prominent investors like Coinbase Ventures, Sandeep Nailwal, 6th Man Ventures, NGC Ventures, Arbitrum Foundation, RR2 Capital, Draper Goren Holm, WWVentures, Optic Capital, DCF God, DeFi Dad, Pentoshi, Altcoin Sherpa, Marc Boiron, SobyLife, CLBera, Ishan B, and Richard Seiler, strengthening its position in the DeFi ecosystem.

Dolomite (DOLO) Team

Led by Adam Knuckey (COO and Co-Founder) and Corey Caplan (Co-Founder and President), Dolomite’s team is dedicated to building innovative financial solutions, aiming to make the platform a global DeFi hub.

Official Links

• Website
• X (Twitter)
• Whitepaper

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zkSync Airdrop Details Revealed

The control page for the zkSync airdrop event, which has been in the news lately, was shared today. In this airdrop event, 695,232 wallets were deemed eligible for the airdrop, and 3.6 billion ZK tokens will be distributed, which is 17.5% of the total token supply.

Criteria for the airdrop event included being a zkSync user, interacting with 10 different smart contracts, providing liquidity to DeFi protocols, transacting on zkSync Lite, donating to the Gitcoin round, transacting with 10 different ERC20 tokens, and transacting on zkSync Lite on the zkSync Era network for three different months. The user who received the least tokens in the airdrop received 900 tokens, and the user who received the most tokens was eligible to receive 100,000 tokens.

The post zkSync Airdrop Details Revealed appeared first on Coin Engineer.

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What is Wormhole?

Wormhole is a general message passing protocol that enables communication between different blockchains. It facilitates the transfer of tokens, NFTs, and data, allowing smart contracts and applications built on blockchains to interact with each other and provide cross-chain functionality. Wormhole aims to enhance interoperability in the crypto world and offer new opportunities to its users.

Wormhole is not a blockchain or token bridge. It provides a communication medium between blockchains and offers protocols that serve this purpose.

Features of Wormhole:

• Cross-chain bridge: Wormhole acts as a portal bridge that allows the transfer of tokens, NFTs, and data between different blockchains. For example, it enables seamless value transfer between Ethereum and Solana.
• Ecosystem partners: Wormhole collaborates with numerous blockchains to expand the cross-chain liquidity ecosystem. It also integrates with dApps like Phantom, Sabre, and Pendle.
• Governance layer: Wormhole has a governance layer supported by its native token W. W is required to use Wormhole’s services, participate in governance, and earn rewards.
• Supported blockchains: Wormhole currently supports 72 major networks, including Ethereum, BNB Smart Chain, and Solana.

Team Members:

The Wormhole team was founded by developers within Jump Crypto but later separated from Jump Crypto to become an independent foundation. The team, consisting of around 10 individuals, includes:

• Dan Reecer: COO (Chief Operating Officer) of Wormhole Foundation and former marketing director of Acala Network.
• Robinson Burkey: Commercial Director of Wormhole Foundation. Previously worked at Jump Crypto.
• Michael Zargham: Technical Advisor to Wormhole Foundation. Also the founder and CEO of BlockScience.
• Anatoly Yakovenko: Advisory Board Member of Wormhole Foundation. Also the founder and CEO of Solana.
• Do Kwon: Advisory Board Member of Wormhole Foundation. Also the founder and CEO of Terra.

The Wormhole team aims to increase interoperability in the crypto world and provide new opportunities for its users.

Roadmap:

Established in 2023, Wormhole’s roadmap so far includes:

• Wormhole 2.0: Scheduled for release in Q1 2024, the second version of Wormhole will offer support for more blockchains, more data types, and more application support.
• Wormhole ZK: Wormhole’s zero-knowledge proofs (ZK)-based interoperability solution, to be released in Q2 2024, will make data transfer between blockchains faster, cheaper, and more secure.
• Wormhole DAO: The decentralized autonomous organization (DAO) of Wormhole, to be launched in Q3 2024, will provide a governance layer supported by the native token W. Wormhole DAO will allow the community to vote on the future direction and parameters of Wormhole.
• Wormhole 3.0: Set to be released in Q4 2024, the third version of Wormhole will offer more features, greater scalability, and enhanced security.

Tokenomics:

W has a total supply of 10 billion, with an initial circulating supply of 1.8 billion. It can be transferred to any network that Wormhole is connected to using Solana SPL and Ethereum ERC20. W is distributed among the following categories:

• Community: 17% (1.7 billion W) is allocated to Wormhole’s users, developers, and supporters. 11% of this (1.1 billion W) will be distributed to the community as an airdrop.
• Foundation: 23% (2.3 billion W) will be used by the Wormhole Foundation for the development, growth, and sustainability of the platform.
• Contributors: 12% (1.2 billion W) is reserved for Wormhole’s developers, researchers, designers, marketers, and operators.
• Ecosystem: 31% (3.1 billion W) is allocated to Wormhole’s ecosystem partners and dApps.
• Strategic Partnerships: 9% (900 million W) is allocated to Wormhole’s strategic investors, advisors, and industry partners.
• Guardian Nodes: 8% (800 million W) is allocated to guardian nodes that ensure the security,

The post Wormhole: Blockchain Interoperability appeared first on Coin Engineer.

What is Amp Coin (AMP)? Amp (AMP) is a token used to facilitate quick and efficient payments based on cryptocurrency. Cryptocurrency networks, also known as the blockchain trilogy, suffer from competing demands such as security, scalability, and decentralized management. Security and scalability often contradict each other because transactions become most secure when confirmed with many approvals, but these approvals can take time. This is not practical for transactions such as payments.

Built on Ethereum, Amp aims to facilitate faster transaction times by providing collateral in the form of AMP tokens while waiting for network approvals. It works through a partner payment network
called Flexa.

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Flexa integrates with standard point-of-sale and online systems to allow sellers to accept payments in cryptocurrency. Since AMP collateralizes all payments, sellers instantly verify the supporting funds for transactions. They have confidence in fund accuracy even if the blockchain hasn’t yet confirmed transaction certainty.

In addition to being used as collateral for guarantees, the AMP token is the main reward form for users who collateralize their AMPs to the network. Additionally, it takes on a role that helps guide the development of the project in the management of the Amp community.

How was AMP developed?

The development of the Amp token is the result of a collaboration between the blockchain development organization ConsenSys, also known for developing the MetaMask cryptocurrency wallet, and the Flexa payment network.

How does AMP work?

The Flexa provides a framework for facilitating payments between customers and sellers. The Software Development Kit (SDK) powers applications that can be used for such payments, like SPEDN.

AMP Stacking

Amp uses a traditional finance-like model also known as staking to collateralize payments through Flexa. Staking is an arrangement in which an agent acts as an intermediary for two parties engaged in financial transactions.

How is AMP used?

The Amp token (AMP) is an ERC-20 token based on Ethereum. Its main purpose is to serve as a collateral asset.

Coin distribution

There is a maximum supply of 100 billion AMP tokens. At launch, 25% of the total supply of FXC tokens (later to become AMP) was allocated to the merchant development fund, 25% to developer grants,
20% to the founding team and employees, 10% to network development fund, and 20% to be sold in token sales.

The Basics of Amp

• The Amp token (AMP) is used as a decentralized collateral for the Flexa payment network.
• Flexa provides a framework that allows merchants to instantaneously accept payments from crypto users, regardless of the time needed for blockchain transaction confirmations.
• Staking AMP in collateral pools provides backend collateral for Flexa-based payments, assuring merchants that these payments are guaranteed; Providing this service allows stakers to earn AMP as a
  reward.

Where to Buy AMP?

AMP is listed on major exchanges like Binance and Kucoin. You can register on these exchanges with our discounted registration links and start buying and selling AMP assets.

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What is Connext (Next) ?

So what is Connex Network ? Developers can use Connext as an open protocol to build applications that simultaneously interact with any token and deploy them on any network.

Since its inception in 2017, the project’s mission has been to make Web3 more accessible to every user by abstracting away the complexities of blockchain. While Connext isn’t a bridge itself, it serves as a seamless and permissionless foundation for developers to create groundbreaking applications and experiences within a growing, primitive ecosystem.

What Are the Components of the Connext Protocol?

xCall: It is the fundamental cross-chain principle that utilizes the Canonical Bridge at its core, enabling interaction with meaningful cross-chain messages for security.

Chain Abstraction Layer: It allows users to interact with a dApp from any chain, enabling projects to integrate users from any ecosystem into their own.

xERC20 and Copying via Connext: It is a new open standard that allows tokens to move seamlessly between chains with zero slippage while being compatible with other bridges simultaneously, without taking ownership of tokens from token holders.

xGovernance: A codeless toolkit for inter-chain DAOs (coming soon!).

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What is Next Token ? 

NEXT, as a cross-chain xERC20 token on the Connext Network, supports fair usage and governance within the Connext Network.

Upon its release, NEXT will be used to govern the Connext DAO, which is responsible for raising funds for the ongoing development of the protocol.

Chance to Win NEXT Token Airdrop!

The NEXT airdrop can be claimed today, September 5, 2023, at 13:00 UTC on the Arbitrum, Optimism, Polygon, or Gnosis networks. You have until April 6, 2024, at 13:00 UTC to claim your tokens.

Initial Supply: 107,500,000 tokens (10.75% of the total supply)

To claim and control your tokens, please visit: Connext Network Airdrop

Additionally, at the same time, NEXT tokens will be listed on the ByBit exchange today at 13:00 UTC. If you are not registered with Bybit, you can take advantage of various opportunities by signing up with our 10% discounted registration link.

• The snapshot was taken on August 1, 2023.
• Contract Address: 0xFE67A4450907459c3e1FFf623aA927dD4e28c67a

What are the Requirements for Winning?

1. Have a total volume of at least $200, calculated across all transactions, with each transfer averaging at least $15 (across all transactions, as calculated).
2. Provide at least $1,500 in liquidity to the Connext Network for a minimum duration of 1 day.

Both of these criteria yield 1 point each. Here’s how you can accumulate your points:

Note: Unless otherwise specified, each condition grants 1 point.

Point System for Stablecoin Pool Trading Activity:

• Interacted with stablecoin pool swaps at least 25 times.
• Interacted with stablecoin pool swaps at least 50 times.
• Interacted with stablecoin pool swaps at least 100 times.
• Provided liquidity of at least $3,000 (2 points).
• Provided liquidity of at least $6,000 (2 points).
• Provided liquidity of at least $9,000 (2 points).
• Provided liquidity of at least $12,000 (2 points).
• Provided liquidity for at least 30 days.
• Provided liquidity for at least 60 days.

Bridge Usage Point System:

• 10 or more bridging transactions.
• 25 or more bridging transactions.
• 50 or more bridging transactions.
• Transactions conducted in at least 3 different months.
• Transactions conducted in at least 6 different months.
• Transactions conducted in at least 9 different months.
• Transactions conducted in at least 12 different months.
• Transactions worth at least $1,000 in V2.
• Transactions worth at least $2,500 in V2.
• Transactions worth at least $5,000 in V2.
• 6 or more transfers between different chains.
• 10 or more transfers between different chains.

Factors:

Partnership with another protocol will result in a multiplication of your points.

(1.5x Multiplier)

If you have interacted with NXTP, introduced at least once in November 2021, by adding liquidity or engaging in bridging, your points will be added to your scoring system, calculated vectorially.

Source: Airdrop Details

The distribution of NEXT Tokens is as follows:

Early Supporters: 23.43% Ecosystem and Strategic Supporters: 11.24% Early Team and Advisors: 11.61% Proxima Labs: 3.78%

For the community:

For DAO: 29.44% For Airdrop: 10.56% For Foundation: 10.94%

In total, the allocation for the community is 50.94%.

CONNEXT PROTOCOL INVESTORS:

Connext Protocol has raised a total investment of $21.7 million from various investment firms, including Polychain Capital, Polygon, Coinbase Ventures, OKX Ventures. With the latest investments, the market valuation of the CONNEXT Protocol is $250 million.

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The post What is Connext Network? How to Earn NEXT Token Airdrop? appeared first on Coin Engineer.

The ERC20 standard is implemented through smart contracts on the Ethereum network. Smart contracts are like digital agreements with specific protocols and guidelines. Developers can leverage these smart contracts to create their own tokens on the Ethereum blockchain. Numerous popular cryptocurrencies in the market today were initially built on the Ethereum blockchain, with some like Uniswap continuing to use the Ethereum contract, while others like Binance Coin have migrated to their own blockchains over time.

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What are the features of ERC20 tokens?

ERC20 tokens are the most commonly used token type on the Ethereum network and are often referred to as utility tokens. Over thousand of tokens have been created using this smart contract. These tokens serve as a means of payment for various transactions and possess different stable properties.

ERC20 tokens have a limited supply, meaning there is a maximum predetermined quantity and the number of tokens in circulation can never exceed this supply. These tokens are also tradable, allowing users to buy, sell\ and exchange them. To store ERC-20 tokens, one needs an Ethereum-compatible wallet such as MetaMask.

What are the Advantages of ERC20 Tokens?

1. Simplified token creation: Developers can create their own cryptocurrencies without the need to build an entire blockchain from scratch.
2. Seamless interoperability: Tokens generated using this standard can easily interact with other entities utilizing the same contract, facilitating integration and compatibility.
3. Versatile for projects: It enables the generation of tokens suitable for various projects and platforms.
4. Usability as a means of payment: ERC20 tokens can be used for transactions and serve as a form of payment.
5. Support for NFTs and DeFi: This standard allows for the creation of tokens used in transactions within the NFT and DeFi.

 What are the disadvantages?

1. Network congestion: Due to the large number of tokens using this standard, the Ethereum network can experience congestion, causing slower transaction speeds for ERC20 tokens.
2. Security risks: Since this standard is widely used, tokens utilizing this contract can become attractive targets for hackers.
3. The proliferation of non-functional tokens: The ease of creating tokens through this smart contract has led to the existence of a significant number of tokens that lack practical functionality.

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